EUR/JPY Price Forecast: Climbs toward record highs near 185.00

EUR/JPY extends its gains for the second successive session, trading around 184.30 during the Asian hours on Monday. The technical analysis of the daily chart suggests that the 14-day Relative Strength Index (RSI) at 61 signals firm momentum without overbought conditions.

The nine-day Exponential Moving Average (EMA) rises above the 50-day EMA, keeping the bullish bias intact. The EUR/JPY cross holds above both averages, indicating trend continuity.

Immediate resistance aligns at the all-time high of 184.95, which was recorded on December 22, aligned with the psychological level of 185.00. A sustained break of the resistance could extend the upswing.

The EUR/JPY cross may find its initial support at the nine-day EMA of 183.60. A break below the short-term price average would weaken the momentum and put downward pressure on the currency cross to navigate the region around the 50-day EMA and the monthly low at 181.57.

(The technical analysis of this story was written with the help of an AI tool.)